|Plenty of people can develop a basic P&L or sales history. |
We’re different because we understand a lot more than debits and credits.
|Which customers, products or projects make money? |
These are the key questions of a financially aware business.
|Reports won’t work if you can’t easily find your data, and they won't work if your data is a mess.|
We’ve written interfaces and extractions on a wide range of off-the-shelf and custom systems.
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7 Steps to Better Financial Reporting
9 Steps for Getting the Reports You Need
You Don’t Have Big Data In previous posts, I wrote about how a financial data consultant differs from a regular data consultant and why it’s important not to oversell financial data projects. In this post, I want to talk about big data. Because, contrary to what you might believe, you don’t have big data. Most financial executives work with regular data. As financial data consultants, we work with regular data. Even if you have $3 billion in sales and 100,000,000 transactions, it’s still regular data. Let me explain how big data and regular data differ: Big data is unstructured. Regular […]Read more
Don’t Oversell Data is hot. So, as with any trend, folks begin thinking that data is the way to solve their problems. As financial data consultants, this is great. But while we love the enthusiasm, we want to acknowledge that what we do is rarely transformative in itself. Don’t be oversold. As we like to say, having good data can keep you from being stupid. But being smart is a whole lot harder. Here’s why: 1. Past performance is no guarantee of future results. We hear that disclaimer in mutual fund ads. It’s a cliché, but it’s absolutely true. Things […]Read more
Lately, I’ve been presenting on the topic “7 Keys to Cost Effective Financial Business Intelligence.” I’ll be covering this topic here in a series of blog posts too. But before I start, I want to use this post to discuss the title. What is “financial business intelligence” anyway? How does it differ from “regular” business intelligence? What do we mean at Red Three when we say our focus is data for finance and accounting? To explain, let me start with a key belief (and something that has taken me years to acknowledge): There’s no such thing as a generic data […]Read more